Dividing property during a divorce or separation is always difficult, but it doesn’t have to be.
I’ve got a few ways to help you obtain what you need and still walk away with an amicable relationship and a long-term financial plan.
- Seek Advice
Without the proper representation and counsel property division can turn into an extremely convoluted and heated part of your divorce. Choosing the right people to be in your corner you can have someone looking out for your needs and wants. These people can make a plan that works for you and helps you look towards the future.
2. Educate Yourself
Divorce is a complicated process that requires professional support; however, it is imperative you familiarize yourself with the pertinent laws. Every province is different when it comes to property division so make sure you look up laws and proceedings specific to your location.
3. Think About the Value
Sentiment is important in our lives. It connects us to memories, the past and can help us live in the present. However, it can also make the property division process quite challenging. Many disagreements during separation focus on property, anything from pets to real estate.
Try to consider the value of things carefully and objectively. Some things will have great importance to you, while others, if you take the time to really contemplate likely won’t be as important as you once thought.
4. Be Honest
First and foremost, hidden money and assets get found out. In most divorces and property divisions people try to hide assets and nearly all fail. In the case of financial assessment, the best defense is being open and honest. Even though it may result in less money, it eliminates the chance of subsequent bad blood and legal issues from hidden money and assets being found.
5. Consider The Future
There’s of course going to be things you want now. But with a divorce or separation you are also going into a new chapter in your life. If you could choose between something good now, or something even better in the future, I hope you would choose the latter. It will most likely require patience, and possibly some lean living right now. However, it will better for you in the future if you’re making smart, long term, focused decisions that secure your financial future.